Brown Adapts Trading Strategy for Shopify and Amazon
CNBC's Investing Club has been following two stocks recommended by Josh Brown, an investment manager and financial analyst. One of these stocks is Shopify (SHOP), which has seen significant gains since it was added to the list. According to a recent CNBC report, Brown still believes in SHOP, but his approach to trading it has changed.
Brown's approach now involves taking profits by selling some shares at certain price targets, rather than holding onto them for the long haul. This strategy is based on the idea that some stocks may not continue their upward trend indefinitely, and that selling some of the gains can help reduce risk.
The other stock mentioned in the report is Amazon (AMZN), which has also seen significant gains since it was added to the list. While Brown's approach to trading AMZN remains unclear, his willingness to adapt his strategy based on market conditions is a key takeaway from the report.